S'pore impounds Cosco ship over payment dispute Singapore has impounded a vessel operated by China Cosco Holdings because of a payment dispute, the company said yesterday, reigniting concerns over China's relationship with the global maritime industry.
Maersk lowers profit forecast AP Moeller-Maersk A/S said that its container shipping line, the world's biggest, will lose money this year, lowering a previous forecast of a 'modest' profit as freight rates plunged.
Dry-bulk ship owners reject multi-year charters Owners of dry-bulk ships are rejecting multi-year charters in expectation that stronger demand for raw materials will reduce a glut of vessels that is depressing rates, according to Eagle Bulk Shipping Inc.
Hactl signs up Silk Way Airlines and S7 Airlines Hong Kong Air Cargo Terminals Limited (Hactl), a major cargo handling agent at the world's largest airfreight hub, welcomed two new customers with the launch of the new winter time...
IAG Cargo takes delivery of first B747-8F IAG Cargo, through its British Airways World Cargo brand, the cargo division of British Airways (which acquired BMI from Lufthansa last week), has taken delivery of the first of th...
Change in DB Schenker Rail management board Karsten Sachsenröder, the member of the management board in charge of European sales at DB Schenker Rail, will be leaving the company at the end of 2011 by mutual consent. He will ...
Howe Robinson Container Index decreases further The Howe Robinson Container Index (HRCI) decreased from 580.1 points for the week ending on 21 October to 556.6 points for the one ending on 4 November. This 24 point decrease in t...
Russia extends Saimaa Canal lease with Finland Russia has extended its Saimaa Canal lease agreement with Finland for 50 years. According to the Russia transport ministry, Finland will pay EUR 1.22 million annually plus EUR 0.18...
75 million truck loads shifted to rail VTG, a German wagon lessor and rail logistics company, has been in business for 60 years and says it has transported 3 billion t of bulk goods, the equivalent of about 75 million t...
EBRD funds new freight cars to boost Russo-Finnish trade The European Bank for Reconstruction and Development (EBRD) has committed to a long-term loan of EUR 22.5 million to fund an investment in new freight wagons to boost by more than ...
Deutsche Post DHL and UNDP offer airport training in Indonesia The Indonesian government, Deutsche Post DHL and the United Nations Development Programme (UNDP) yesterday launched a training programme in Indonesia under the "Get Airports R...
D&F McCarthy adding Renault Trucks to fleet D&F McCarthy, one of East Anglia's leading fresh produce merchants, has taken delivery of three Renault Midlums into its Iveco-dominated fleet of 18 trucks and vans. Supplied b...
Mobile Services takes delivery of another Volvo truck The Leicestershire-based English car and light commercial vehicle transporters Mobile Services has taken delivery of its fourth new Volvo truck, an FM11-330 6x2 rigid unit. The new...
Logwin takes over cross-docking for Bellaflora Bellaflora, Austria's biggest garden centre chain, has recruited the international logistics services provider Logwin to reorganise deliveries to branches. Logwin will assume the c...
DHL building logistics centre in Germany for Primark DHL Supply Chain, a leading contract logistics specialist, is building a logistics centre in Mönchengladbach (Germany) for its customer Primark, creating 250 jobs in the region. A ...
Ceva Logistics posts minor improvement in Q3 The global logistics services provider and SCM specialist Ceva Logistics improved its sales by 1.2% in the third quarter of 2011, from EUR 1.815 to 1.84 billion. The corporation's ...
Booming Asian car demand to keep tankers employed Latest annual Opec report forecasts huge growth in oil demand for road transportation
Developing nations' marine bunkers consumption to soar Increased shipping activity in Asia to expand global requirements for fuel
Pacific to boost gasoline and gasoil trade Asian demand for oil products to grow to 40% of total global market
Disney magic fails to lift flagging car sales Closer co-operation between producers and logistics players is looking more likely
VLCCs poised for record monthly cargo volumes from Middle East Ship glut is slashed, boosting owners' sentiment and futures market
Marinakis charters out VLCC to BP for year as spot earnings fail to attract Energy giant takes Atlantas at probable daily rate of $19,750
Danes to push deregulation at IMO assembly Maritime authority calling for purge of red tape
Drewry transpacific rates dip as Matson talks of trade lane pressure Prices fall marginally to $1,521 per feu on Hong Kong to Los Angeles benchmark route
Opening up Northern Sea Route presents social and political challenges While the shipping industry will want to maximise the economic benefits of the NSR, environmental and social conditions in the Arctic need to be protected
Liner service connections on the rise in 91 countries Figures from the UN Conference on Trade and Development show Morocco, Vietnam, Lebanon and Algeria as the biggest gainers
China clings to its purse strings The G20 summit produced no clear or agreed detail about where the money for proposed bail-out funds and bank recapitalisations will come from
Daily rate of $8,000 becomes norm for containership charter market Whether feeder or panamax, vessels are being booked for similar prices
Container and tanker operations hit AP Moller-Maersk third quarter Group profit sinks to $371m
A question of convenience Owners should think twice before chosing where to flag their vessels
It's the message that counts, not the medium Internet use within the maritime industry is on the ascendency
Chemoil returns to profit But company still outperformed by competitors despite cost cutting and sales growth
Maersk Line hit by falling rates and overcapacity Another two tough years likely, says Nils Andersen
Star Bulk reports third-quarter loss Capesize and supramax owner sees 28% year-on-year fall in TCE earnings to $18,808 a day
Navios Maritime Acquisition remains in the red LR1 pair finds three-year time charters
Greencarrier expands Nordic services Finland to join existing links with Denmark, Sweden and Norway
SNCM to lose Corsica contract over breach of EU cabotage directive French appeal court rules in favour of rival
Vopak reports 6% rise in third-quarter operating profit year on year to $165m Liquid terminal operator says rise due to new storage capacity
Noble Group in $17.5m loss for third quarter Singapore-listed supply chain manager blames 'out-of-control' market volatility
War risk ruling likely to be reassessed High Court considers whether piracy threat justifies alternative routing
Bergen Group's revenues rise on higher offshore activity Reports turnover of $144.6m for the third quarter
FSL and Daxin settle dispute over two vessels 'Amicable' out-of-court settlement sees Daxin paying $5m to First Ship Lease
Yangzijiang posts record quarterly profits Singapore-listed yard makes headway in its effort to build higher-value ships
Time for diversification With all sectors looking at a serious downturn, we are witnessing what is starting to look like a stampede to the exit
Hanging tough Maersk's third-quarter results show how it can win the waiting game
Owners urged to see the big picture Focus should be beyond period charters
Orders fall threatens Chinese builders NEW ORDERS at more than 2,000 shipyards in China reportedly plunged 43% year on year in 2011's first nine months
How China's steel plans affect iron sector CHINA is set to produce more iron ore from domestic mines and overseas investments as its steel industry continues growing
Star Bulk swings to losses NASDAQ-listed Supramax and Capesize owner Star Bulk today reported lower losses than expected, driven by a 28% plunge in rates
Owners wary of Kremlin aid RUSSIAN shipowners today raised questions about the Kremlin's sudden support for shipping
Landmark cargo from Sierra Leone CHINA will soon receive its first cargo of iron ore from Sierra Leone in 30 years, IHS Global Insight reported today
Hamburg lawyers form own shipping firm LEADING shipping law firms Taylor Wessing and Ince & Co are both reeling from defections from their staffs in Hamburg
Höegh chosen for FSRU in Sumatra INDONESIA'S government-run PGN has picked Norway's Höegh LNG to build the Belawan FSRU scheme, IHS World Market Energy reported today
Yangzijiang posts $157.7M in profits for 3Q SINGAPORE-listed Chinese shipbuilder Yangzijiang said today 3Q2011 net profits surged 40% year on year, to a record high
DHL ocean totals drop DEUTCHE Post DHL said today its box liftings dropped year on year in the third quarter to 708,000teu
SOBRENA reported to be under administration LEADING French ship repair outfit SOBRENA has reportedly been placed under court administration because of financial difficulties caused by a scarcity of orders
Oz port strife settled ASCIANO, the Australian port operator, said it has settled with unions after more than a year of strikes
Cargo surge boosts VLCCs BROKERS told Fairplay today they expect VLCC rates in the east-of-Suez market to stay in the Worldscale 50s until year-end
COSCO predicts release of bulker in Singapore COSCO told Fairplay today it expects officials in Singapore to release a Panamax bulker arrested on 4 November
Trans-Pacific newcomers boxed out A BRUISING price war among container liners has boxed out the six groups that have entered the Trans-Pacific market in the past two years
Lending squeeze persists SHIPPING lending capacity will not return any time soon, ABN AMRO's global transport head Gust Biesbroeck has warned.
Business Praises Action on Senate Transport Plan Business groups are praising a Senate committee's approval of a new surface transportation plan but they say it's only the...
Ceridian-UCLA Trucking Index Rises 1.1 Percent The Ceridian-UCLA Pulse of Commerce Index reversed course in October, rising 1.1 percent from September after declining for three consecutive...
CMA CGM Resumes Libya Service CMA CGM said it has resumed all container commercial services to Libya, joining Maersk Line and Nordana in restarting service...
USPS Offers Amnesty on Equipment Returns The U.S. Post Service is urging shippers to return postal-owned equipment and promises not to ask any questions about the...
Report Says Industrial Land Market Nearly Recovered The industrial real estate market is one quarter away from reabsorbing the space that went vacant during the 2008-2009 downturn,...
Corpus Christi Port Sells 185 Acres to Logistics Firm Texas' Port of Corpus Christi approved the $66 million sale of 185.5 acres at a decommissioned naval base to a...
Kintetsu World Express Profit Rises 19.3 Percent Kintetsu World Express, Japan's second-largest international forwarder, said its net profit rose 19.3 percent year-over-year in the first half of...
DOT Freight Index Hits 38-Month High Freight volumes carried by the for-hire transportation industry were up 0.9 percent in September from the previous month and reached...
Senate Committee Approves Transport Plan The Senate Environment and Public Works Committee unanimously approved a two-year, $109 billion surface transportation bill, but Sen. James Inhofe...
Ocean Carriers' Schedule Reliability Rises to 63 Percent The amount of container ships arriving on time in third quarter rose to 63 percent, and Maersk Line had the...
Unions Criticize Marad's US-Flag Report Four maritime unions have criticized the Maritime Administration for not including their viewpoints in a study that found U.S.-flag ships...
Survey Shows Truckload Capacity Down 1.5 Percent Capacity at a group of six large truckload carriers tracked by The Journal of Commerce fell a cumulative 1.5 percent...
Wilh Wilhelmsen Profit Soars 135 Percent Wilh Wilhelmsen's third quarter operating profit surged 135 percent to $175 million on strong growth in the Norwegian car carrier's...
Trans-Pacific Spot Rates Resume Decline Spot freight rates on the trans-Pacific dropped this week after last week's brief rebound off their 22-month lows. The...
Maersk Line Loses $297 Million on Rate Collapse Maersk Line said Friday it lost $297 million on shipping in the third quarter amid collapsing freight rates on the...
Agriculture Shippers Expect Tighter Capacity Most shippers of agricultural products are securing the vessel space and equipment they need right now, but they expect space...
APM Terminals' Profit Grows 24 Percent APM Terminals' third-quarter profit jumped 24 percent year-over-year to $174 million, as the terminal operator grew container traffic by a...
Deutsche Post DHL Raises Profit Outlook Deutsche Post DHL raised its full year earnings forecast Wednesday after reporting an 18.5 percent surge in third quarter operating...
Forwarders' profits continue CEVA Group has joined the list of forwarders still reporting much better operating results than ocean carriers in Q3 11 compared to the same period last year, although ...
Rena: ROB bunker salvage hits snag
Exploding reefer Vietnamese contagion The reefer box explosions that took place at Cat Lai terminal, Ho Chi Minh City, Vietnam and in China continue to spread a negative message to the shipping community, ...
Crowley adds cool containers Jacksonville-based Crowley Maritime Corp, which operates container and ro-ro services between the US and a wide range of locations in the Caribbean and Central ...
Port Tracker forecasts November US imports drop on back of 'lean' inventories Import cargo volumes at the US' major container terminals have started to decline as retailers keep inventories 'extremely lean', according to the monthly Global ...
Maersk losses also grow As with other ocean carriers, Maersk's losses from liner container shipping activities grew dramatically in Q3 11 compared to the previous quarter, from a deficit ...
Dealing with the teenagers Mark Williams, research manager of UK-based shipbroker Braemar Seascope, believes that scrapping teenage containerships and more effective management of supply ...
Damco expands its distribution capacity in Dubai Copenhagen-headquartered Damco, a leading provider of global logistics services, has responded to growing demand for warehousing and freight distribution services ...
APM T: 'a steady ship' Among all of the gloom and doom in the liner shipping sector, operators of container terminals appear to be the beacon of stability. This is also evident in the ...
Exploding reefer contaminant may be methyl chloride Refrigeration experts believe they have discovered with "near certainty" the cause of several explosions in the cooling systems of refrigerated containers, explosions that have killed three workers worldwide.
Private navy to combat piracy looks for investment
Hastings leaves Sea Star
COSCO adjusting BAF and CAF on Europe routes
Matson profit takes $6 million hit from service end
Seago joins INTTRA network
Maersk Line down in 3Q, but terminal, oil divisions help group
Crude dips on Italian debt concerns Oil dropped along with the euro and stocks earlier as turmoil in Italy bolstered concern that Europe's debt crisis will spread.
Fujairah prices stable Deliveries in Cape Town available for supply up to and including November 21.
Rotterdam market softened Demand for bunker fuels was 'paltry at best', a player told Bunkerworld.
Chemoil posts 'strong' Q3 profit Plans to strengthen its bunker business as well as to 'further diversify' in Q4 2011 and next year.
Bunker prices generally softening in Asia Mixed demand in major Asian bunker ports on Wednesday, say traders.
Odfjell swings to black in third quarter Company's bottom line 'challenged' by increase in bunker costs.
Slow steaming to become 'more widespread' in future All shipowners to explore slow steaming, says chairman and CEO of Nordic American Tankers.
'Increasingly difficult' to pass on bunker cost, says Maersk A.P. Moller-Maersk posts 78% decline in net profit in Q3; expects its box shipping unit to post a loss for full year 2011.
Air pockets preventing removal of fuel from Rena Salvors encounter air every time they begin pumping oil from submerged tank, says MNZ salvage advisor.
Tanker operators urged to get 'creative' Tanker operators can consider slow steaming, vessel layups and mergers to lower operational costs, says Poten & Partners spokesman.
NuStar commences bunker ops in New Orleans To operate two barges to support its bunkering business at the port.
Japan bunker inventories at 'relatively low' levels Generally slack demand across Japanese ports.
Tanker operator extends losses in Q3 Bunker prices continue to put pressure on its earnings during the quarter.
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